Lactic Acid Market

Lactic Acid Market size is valued at US$ 3.16 Bn in 2018 and expected to grow at a CAGR of XX % in the forecasting period.

Growing application from industrial and personal care may also promote lactic acid market size. Rising demand for lactic acid as pH regulator and preservatives for food & beverages sector is expected to fuel its demand over the forecast period. Growing cosmetic industry, because of the increasing number of manufacturing base by companies including Unilever, Johnson & Johnson, and P&G in the U.S. is expected to drive industry expansion.

Increasing usage in creams, shampoos, and body care products as it enhances skin lightening effects, improves collagen and elastin synthesis, accelerates exfoliation and cell renewal is expected to propel industry expansion over the forecast period. Rising demand for personal care products, owing to the introduction of sophisticated products along with the formulation development for a consumer group is expected to create new growth avenues for the lactic acid market.

Lactic Acid market is majorly segmented by the application and region wise. Based on applications segment the market is segmented as Industrial, Food & Beverage, Pharmaceuticals, Personal Care. Under this, industrial application holds the largest share. It finds application in biodegradable polymers and lactate solvents production. Lactate ester solvent including butyl lactate and ethyl lactate are biodegradable and non-toxic in nature and provide use in consumer and industrial applications.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Europe held the highest market in 2017. Europe, dominated by, France and Germany lactic acid market. Increasing number of production facilities and with more sustainability focus which should influence positively for regional industry growth.

Key Players frofiled and Analysed in the Report:
BASF, Galactic, NatureWorks, Corbion Purac, Pyramid Bioplastics, Danimer Scientific, Dow Chemical, Synbra, Henan Jindan Lactic Acid Technology, Musashino Chemical, Futerro, Teijin and Wei Mon Industry. Maximum companies derive lactic acid by the procedure of fermentation, due to its low-cost production and necessity for bio-based goods. Lactic acid manufacturers derive raw ingredients for fermentation, which may rightly provide to food & beverage, personal care formulations, industrial and pharmaceutical applications.

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Scope Lactic Acid Market Report:

Lactic Acid market, by Raw Material

• Corn
• Sugarcane
• Cassava
• Other Crops
Lactic Acid Market, By Application

• Industrial
• Food & Beverage
• Pharmaceuticals
• Personal Care
• Other
Lactic Acid Market, By Geography

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Lactic Acid Market:

• Galactic
• NatureWorks
• Corbion Purac
• Pyramid Bioplastics
• Danimer Scientific
• Dow Chemical
• Synbra
• Henan Jindan Lactic Acid Technology
• Musashino Chemical
• Futerro
• Teijin
• Wei Mon Industry
• Thyssenkrupp AG
• Vaishnavi Bio-Tech Ltd.
• Cargill
• Cellulac
• Corbion
• NingXia Hypow Bio-Technology

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